Chinese oil traders preempt price drops

Updated: 2011-08-10 16:45

By Cai Xiao (chinadaily.com.cn)

  Comments( China Daily Website - Connecting China Connecting the World

Sorry, the page you requested was not found.

Please check the URL for proper spelling and capitalization. If you're having trouble locating a destination on Chinadaily.com.cn, try visiting the Chinadaily home page

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
)
Print Mail Large Medium  Small 分享按钮 0

Influenced by the crashing of the international oil price and expected adjustments of domestic oil prices, Chinese refined oil traders are stopping purchasing. Experts predicted that oil prices will be adjusted by the end of the month, the 21st Century Business Herald reported.

The paper quoted a trader in Shandong province as saying that he is contacting his customers and trying to sell out refined oil to evade price risks, because he thinks the oil price will fall soon.

The National Development and Reform Commission said on August 8 that the decline of international oil prices has not reached the limit of 4 percent. If the global fluctuation continues, the government will immediately reduce the domestic crude oil price, the paper said.

The paper quoted SCI, a portal of China commodity information, as saying that if the international oil price falls down a bit, remaining at about $105 a barrel, the price of domestic refined oil is likely to be adjusted on August 29 at the earliest; or the adjustment may come sooner, around August 25 on the condition that the global price continues falling to about 103 dollar a barrel.

Comments (English only) View Comments
Your name

Messages that harass,abuse or threaten others;have obscene or otherwise objectionable content;have commercial or advertising content or links may be removed.

Comments: ( China Daily Website - Connecting China Connecting the World

Sorry, the page you requested was not found.

Please check the URL for proper spelling and capitalization. If you're having trouble locating a destination on Chinadaily.com.cn, try visiting the Chinadaily home page

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
)